Time limit to utilize GST Credit Ledger

[Ashiesh Prremji]

Dear Sir,

Is there any time limit to utilize GST Credit Ledger in normal scenario? Suppose if i have accumulated ITC in my GST Credit Ledger , can i use it to set-off outward liability for current year?

Thank You,

AI Summary

GST input tax credit usability: no time limit to utilise electronic credit ledger to offset tax liabilities.
Credits in the Electronic Credit Ledger may be applied to offset current and future GST liabilities; there is no prescribed time limit for utilization of ledger balances. Administrative controls may impose specific restrictions, and separate statutory or procedural limitations govern the initial availing of Input Tax Credit, but utilisation of lawfully credited amounts is not time-barred.